(Bloomberg) -- Cocoa rose in New York for the second
day as global demand for the beans used to make chocolate is
expected to exceed supply and the weaker dollar attracts
speculators to buy contracts in the U.S.
Consumption may exceed supply by as much as 125,000 metric
tons this year, according to the London-based International Cocoa
Organization. Dry weather has harmed crops in Ivory Coast,
Ghana and Indonesia, the three largest producers. The British
pound rallied to the highest against the dollar in 26 years,
making it cheaper to buy futures in New York than London.
Read more at Bloomberg Commodities News
day as global demand for the beans used to make chocolate is
expected to exceed supply and the weaker dollar attracts
speculators to buy contracts in the U.S.
Consumption may exceed supply by as much as 125,000 metric
tons this year, according to the London-based International Cocoa
Organization. Dry weather has harmed crops in Ivory Coast,
Ghana and Indonesia, the three largest producers. The British
pound rallied to the highest against the dollar in 26 years,
making it cheaper to buy futures in New York than London.
Read more at Bloomberg Commodities News
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